Bitcoin Long Liquidations May Reach $1.09 Billion if Price Drops Below $75,000
JOON HYOUNG LEE
Summary
- BlockBeats reported that if Bitcoin falls below $75,000, cumulative long liquidation pressure across major centralized exchanges would reach $1.085 billion.
- If Bitcoin breaks above $78,000, cumulative short liquidation pressure across major exchanges would reach $609 million.
- According to CoinMarketCap, Bitcoin was trading at $76,257.78, down 1.33% from a day earlier and up 20.98% from a week earlier.
Forecast Trend Report by Period
Bitcoin could face a large wave of long-position liquidations if the token falls below $75,000.
BlockBeats, citing CoinGlass data on August 23, reported that cumulative long liquidations across major centralized exchanges would total $1.085 billion if Bitcoin drops under $75,000.
If Bitcoin breaks above $78,000, cumulative short liquidations across major exchanges would reach $609 million.
According to CoinMarketCap, Bitcoin was trading at $76,257.78 as of 2:14 p.m. in Seoul, down 1.33% from a day earlier. The token was up 20.98% from a week earlier.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul